$9 million returned to co-op’s customer-owners

Take a close look at your December electric bill. Most Walton EMC customer-owners are receiving a bill credit that represents their share of approximately $9 million in capital credit refunds.

Each year, the co-op’s member-elected Board of Directors determines what portion of capital credits can be retired or returned to the membership after reducing debt, saving for emergencies and investing in infrastructure and other improvements. Capital credits are returned only when it is financially prudent to do so.

“One of the tangible benefits of being served by a not-for-profit cooperative is receiving capital credits,” said Dr. Michael Lowder, Board chair. “Your Board is proud of the co-op’s financial position that makes it possible to return capital credits.”

This year, refunds will go to those who received electric service from Walton EMC in 2001 and 2023. The amount of each member’s refund check is in proportion to the total of their electric bills in those years. The more a customer-owner spent with the co-op, the larger their refund will be.

Including the current distribution, Walton EMC has refunded $152 million in capital credits to its member-owners since the cooperative was founded in 1936.

“Our competitively priced, reliable power supply, along with our continued efforts to maximize efficiencies and control costs, make these refunds possible year after year,” said Walton EMC President and CEO Ron Marshall.

Most customer-owners will receive the credit on their December or January bill, saving tens of thousands of dollars in printing and mailing costs that check distribution would require. Checks are issued to active customer-owners receiving a refund above $500, as well as former customer-owners who had accounts during the years targeted for the distribution.